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GILT TECHS: (Z4) Clears Support

GILT TECHS
Fixed Income Technical AnalysisCEEMEABulletUKGlobalFixed Income BulletsRegionMarkets
  • RES 4: 101.06 High sep 18
  • RES 3: 100.39 High Sep 19   
  • RES 2: 100.00 High Sep 23     
  • RES 1: 99.47 High Oct and key short-term resistance          
  • PRICE: 98.38 @ Close Oct 3
  • SUP 1: 97.97 Low Oct 2             
  • SUP 2: 97.85 0.50 proj of the Sep 17 - 30 - Oct 1 price swing   
  • SUP 3: 97.47 0.618 proj of the Sep 17 - 30 - Oct 1 price swing
  • SUP 4: 96.99 0.764 proj of the Sep 17 - 30 - Oct 1 price swing

A bear threat in Gilt futures remains present - for now - and this week’s extension reinforces the bearish theme. The contract has traded through support at 98.11, the Sep 2 low and a bear trigger. The break strengthens the downtrend, signalling scope for a deeper retracement, towards 97.47, a Fibonacci projection. Initial firm resistance has been defined at 99.47, the Oct 1 high and just above the 20-day EMA.

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  • RES 4: 101.06 High sep 18
  • RES 3: 100.39 High Sep 19   
  • RES 2: 100.00 High Sep 23     
  • RES 1: 99.47 High Oct and key short-term resistance          
  • PRICE: 98.38 @ Close Oct 3
  • SUP 1: 97.97 Low Oct 2             
  • SUP 2: 97.85 0.50 proj of the Sep 17 - 30 - Oct 1 price swing   
  • SUP 3: 97.47 0.618 proj of the Sep 17 - 30 - Oct 1 price swing
  • SUP 4: 96.99 0.764 proj of the Sep 17 - 30 - Oct 1 price swing

A bear threat in Gilt futures remains present - for now - and this week’s extension reinforces the bearish theme. The contract has traded through support at 98.11, the Sep 2 low and a bear trigger. The break strengthens the downtrend, signalling scope for a deeper retracement, towards 97.47, a Fibonacci projection. Initial firm resistance has been defined at 99.47, the Oct 1 high and just above the 20-day EMA.